I’ve had remodeling on the brain lately. It’s one of those topics I try to not even think about because my mind tends to get away from me. It starts with me saying “You know what would be cool…” and before I know it I’m drawing up a budget and looking for financing. That’s what happened with the backyard. We had ideas, looked at pavers, made drawings of what we wanted it to look like, knowing full well that we couldn’t landscape the backyard for a quite a long time. Well, it’s landscaped. ooops.

It’s taking me twice as long to get ready in the morning because I’m dreaming of my remodeled bathroom, and that has me concerned. I even talked to a Realtor about my plans and their affect on our house value. SOMEBODY STOP ME!

Besides gutting our bathroom there are a couple of other things I would like to do first. I want to replace the rug downstairs with tile and upgrade the kitchen counters. For some reason I always had it in my head that you actually made money if you remodeled your house. For example, I thought if you spent $10,000 upgrading the kitchen you would increase the value of the house by like $11,000. But that’s not the case. While researching my awesome ideas for the bathroom I found this nifty site that gives the percentage back on different types of remodels. If you click around your city might be listed and you can get info for your specific region. For example, the average bathroom remodel for my area costs $14,955. The average amount recouped is $12,289, or 82.2%. So it only really costs $2,666, right? Well heck! Sign me up for that. For less than $3,000 I can have the bathroom of my dreams? How can I not do it?

Well, unfortunately that is only true if you sell the house right away. Otherwise you still owe the full $15,000. I mean, someone has to pay that loan. They don’t just hold it for you until you sell. But it is very odd to spend $15,000 and only have your net worth go down by $3,000. Not that it makes it a good idea, it’s still a loan no matter how you slice it.

According to the site I listed the average percentage recouped for a midrange remodel is about 70%. With the best remodels being adding a wood deck (85.4%) and a minor kitchen remodel (83%). The worst remodels are a home office remodel (57%) and a back up power generator (58%).

pic credit: Kaworu Koneru